GCC bond sales jumped to a record this week after International Petroleum Investment (Ipic) seized on low borrowing costs to raise US$2.9 billion in the region’s biggest corporate offering this year.
Debt issuances in the GCC, which supplies about a fifth of the world’s oil, reached $37.4bn after the Abu Dhabi state-owned energy investor Ipic sold dollar and euro-denominated notes. That took regional sales almost 4 per cent above the previous record in 2009, according to data compiled by Bloomberg. Ipic’s offering topped the $2bn raised by Qatar National Bank this year………………………………………..Full Article: Source